Concord Wealth Partners Has $8.40 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Concord Wealth Partners trimmed its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 8.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,168 shares of the e-commerce giant's stock after selling 4,186 shares during the quarter. Amazon.com accounts for approximately 1.4% of Concord Wealth Partners' portfolio, making the stock its 15th largest holding. Concord Wealth Partners' holdings in Amazon.com were worth $8,403,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Castlekeep Investment Advisors LLC purchased a new stake in shares of Amazon.com in the fourth quarter valued at about $25,000. Prudent Man Investment Management Inc. purchased a new position in shares of Amazon.com during the fourth quarter valued at approximately $27,000. LSV Asset Management purchased a new position in Amazon.com during the fourth quarter worth approximately $35,000. Cooksen Wealth LLC purchased a new position in Amazon.com during the first quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new position in Amazon.com during the first quarter worth approximately $40,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $217.00, for a total transaction of $542,500.00. Following the sale, the chief executive officer owned 512,050 shares of the company's stock, valued at $111,114,850. This represents a 0.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the completion of the transaction, the insider directly owned 883,779,901 shares in the company, valued at $203,649,402,587.43. This trade represents a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,096,253 shares of company stock valued at $5,673,745,409 in the last quarter. 9.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AMZN has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of Amazon.com from $240.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Stifel Nicolaus lifted their price target on shares of Amazon.com from $245.00 to $262.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Royal Bank Of Canada lifted their price target on shares of Amazon.com from $230.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Tigress Financial lifted their price objective on shares of Amazon.com from $290.00 to $305.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Amazon.com from $230.00 to $266.00 in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $262.87.

Amazon.com Price Performance

Shares of AMZN stock traded up $0.05 during mid-day trading on Friday, reaching $231.03. The company's stock had a trading volume of 39,600,434 shares, compared to its average volume of 47,994,872. Amazon.com, Inc. has a 1-year low of $161.38 and a 1-year high of $242.52. The company has a market cap of $2.46 trillion, a P/E ratio of 35.22, a PEG ratio of 1.56 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02. The firm's 50-day moving average is $221.41 and its two-hundred day moving average is $208.44.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.37. The company had revenue of $167.70 billion during the quarter, compared to analysts' expectations of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The business's revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.26 EPS. On average, research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.